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Author Topic: The New Iraqi Dinar
The ONE
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Holding strong at 1 dinar = .00068 USD or $1 =1457 dinar. What do you guys think about the Hussan trail? Possible uprising in the making? I'm sure the man still has some people who believe in him.
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TeenageTrader
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I think you guys are looking at this all wrong... I am in as soon as ANY of my stocks make the moves they need to make... Think about this... if you had 1 million dinars and the value went up to .10 and you had 100k in U.S. dollars not yet converted.. don't you think you would go buy a plane ticket and fly to Iraq for two seconds just to exchange the money if they didn't go on major exchanges yet? Im afraid to say I would buy a roundtrip ticket, fly my happy little butt over and sing and dance the whole flight over... then goto the airport get my money... and hop on the flight home with a bag full of money... the dinar IMO is a very low risk investment and I plan to get as many dinars as I can.
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JBCak47
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Teen,

See I agree with you 100%, as long as you did not leave the Air port you'd probably be okay... However somewhere someone is going to see you wait at that air port, exchange a boat load of cash and then hop back onto a plane. Now if you did that, you wouldnt have to pay taxes, of like 20%-33%, just changer fees 2-5%... That is a big difference... do you get out of the takes though? Are there taxes? I would imagine so right?

CMKX is the one waiting for me, I even poured EXTRA cash so when it hits I can get more Dinars. I mean 3-5 million dinars and you are set... at 4 million dinars, all you have to do is hope it goes to .25 to our dollar and BOOM! MILLIONAIRE...

Now let us say we do that here, and it ONLY goes it a dime, still 400k in currency is pretty damn good not to mention TeenTrader you'll look like The Man lol when you tell a girl how you made your cash when she asks... 'Yeah I was smart, took a chance in Iraq and well, Oil money isn't that bad..."

Now we have Iraq.... What about Iran... North Korea... even Syria...

Iran is the bets option since if we ever took out their hostile government, Iran has oil and NATURAL Gas and is situated to bring gas to India, Pakistan and if be, into China as well as exporting to Europe. Sooner or later we have to do something. I supported the war in Iraq, Saddam was totally a threat and sooner or later he WOULD have hurt Americans. But Iran most likely has nuclear capabilities... (well so does Korea but in terms of how I see it, what the hell could Korea produce AFTER we took it over??? They have no natural resources worth it, ya know?)I mean Iraq didn't, Iraq is a shell game. Now we have 10-15k troops in Afghanistan, Troops in Kuwait, 120k+ in Iraq.... Troops in Pakistan, CIA Predator Drone Bases in Uzbekistan. I mean look at a map of the Mid-east, we have SURROUNDED IRAN.... Seriously TeenTrader, I know Iraq was a shell game, something we needed to do, but in the long run it puts 100k Troops at Iran's doorstep for 5+ years....

We can become millionaires just by changing governments... I am really considering the military. I am trying my hardest to learn Urdu, a language spoken in the Pakistan region. Thankfully my Arab friends at the gas stations will teach you anything about their homeland. In fact most are taken back if you honestly ask them where they are from. I have been offered to go visit Pakistan and stay there for a couple of weeks... Makes me wonder if we ever go into Iran, I think I would fly to Pakistan and cross over into Iran... Dangerous? Totally. Stupid? Depends who you ask. Profitable? Yeah.

Price of a round-trip plane ticket to Peshwar, Pakistan: $2,100 US

Price of the train ride to the Iranian/Pakistani Border: $25 US

Price of a girls face when you tell her you got shot at, almost kidnapped and dressed as a Muslim to strap millions of Iranian Rial to your chesst just to fly back home: Price less....

Teen Trader, I like you, you know why? Because you are smarter then me I did not start trading until Jan. 2004 lol... I am 23, go you bro Happy Fourth guys!!!

-John


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stock_82
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http://www.planetark.org/dailynewsstory.cfm/newsid/21438/newsDate/9-Jul-2003/story.htm

Any thoughts after reading the article?? I just find it interesting. We can't ignore the bad and just take the good. We have to weigh the two and hopefully the good outweighs the bad in this situation.


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sharkus
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quote:
Originally posted by stock_82:
[URL=http://www.planetark.org/dailynewsstory.cfm/newsid/21438/newsDate/9-Jul-2003/story.htm]http://www.planetark.org/dailynewsstory.cfm/newsid/21438/newsDate/9-Jul-2003/story.htm[/ URL]

Any thoughts after reading the article?? I just find it interesting. We can't ignore the bad and just take the good. We have to weigh the two and hopefully the good outweighs the bad in this situation.



IRAQ: July 9, 2003 - last year! - that is the date the article was written. Is there something I am missing or are you just calling to light that not all is well and that anything can happen in the country?


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Nacho
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Hey guys, before you make any big decisions on the dinar I saw this on another forum:

I too have been following the Iraqi dinar. You are correct about
that price. The Central Bank of Iraq has been having daily auctions
and the price as of June 26 was 1460 dinars/$. The volume of
exchanges has been around 10-15 million USD per daily auction. I've
been curious to see the price since the handover, but it isn't
posted or they have had no auctions
(http://www.iraqcoalition.org/exchange.html)

What that tells me is that most of the websites selling Iraqi
dinars are gouging- nearly doubling their money. At the present
time, and probably for a few years to come the only place you can
exchange Iraqi dinars is *IN* Iraq, in the near future you may have
to deal with one of these sharks to get your dollars at a
significant discount(or take a vacation to Iraq!), until
international banks are allowed to exchange dinars. It reminds me
of times I have exhanged money in the streets in Albania, and the
Dominican Republic, where the street rates are much much better
than bank rates but being mugged is a real possibility.

Another thing I have looked at are values of surrounding
currencies. At http://www.fxstreet.com/nou/gci/gcicurrencies.asp
you can monitor the Riyal ($3.7478/SAR), the Kuwaiti dinar
($0.2946/KWD)and others. This doesn't tell me much, but one thing
to consider is that the Turkish Lira currently trades at 1,469,995
Lira to the dollar.

My own opinion is that 1)the dinar may get cheaper in the near term
because of the instability 2)Iraq does not look that economically
bright to me. It is a one-pony country with only oil to depend on.
As a petroleum geologist I can tell you that it will be 3-5 years
before Iraqi oil production is restored to prewar levels, and those
levels were not high (~2.5 mbpd peak in 1999 compared to world
consumption of 78 mbpd). It may be 10 years or more before Iraq is
truly a significant oil producer. The first tanker load of oil to
leave Iraq since the war started only sailed about a month ago.
Many of the Iraqi oil fields are permanently damaged from being
shut-in and will require new drilling before there is any
resumption of production. 3)the most likely way to make money on
the dinar might be as a collectible. Currently the 1971 Iraqi dinar
notes list (in Krause) for US$20 to $60 per dinar in uncirculated
condition at retail value. Even this is speculative because there
may end up being a lot of these notes being hoarded by collectors-
and it might take 30 years to get there!

If you want to wait ten years- you might make good money, or you
may have the equivalent of Turkish Liras.


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TeenageTrader
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Well first off stock_82, even though your news is old... I am fully aware that Iraq is MORE THAN LIKELY to be targetted by terrorist attacks via the oil pipelines... I would almost guarntee it is going to happen. But, is it going to ruin the entire economy of a country? No. Yes it will make it a lot harder to strengthen the economy but when push comes to shove... the dinar will IMO be worth MINIMUM .10 to a U.S. Dollar within two years... and taking $100,000 on my twentieth birthday would be quite a little present for myself... And if I have to fly to Iraq to get it... I will.

Now on the JB... I would have to say.. you and I are both right, and I like you too :P. The little Iranian comment about the priceless thing... umm yeah priceless... and I would have to say I would absolutely do alittle covert op for myself to make some money... it would be scary and an adrenaline rush the whole time through.. Also, about the airport thing... the way I see... I walk in with a breakcase with my dinars... exchange... put my crispy benjamins in the briefcase and jump on my plane... someone would have to stop me in the middle of the airport and steal my money... and I mean hey... if I have to slip an american soldier $1000 to walk me around with a m16... then I mean hey... that is the price you pay to keep yourself safe..

Rountrip ticket to Iraq: $Who cares your gonna be rich
Bodyguard at the airport: $Again who cares your gonna be rich
Tellin a girl your "How I became a millionare story": Priceless

Ya know theres some things money can't buy.. for everything else theres the Iraqi Dinar; bought by every smart investor out there.


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TeenageTrader
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quote:
Originally posted by Nacho:
Hey guys, before you make any big decisions on the dinar I saw this on another forum:

I too have been following the Iraqi dinar. You are correct about
that price. The Central Bank of Iraq has been having daily auctions
and the price as of June 26 was 1460 dinars/$. The volume of
exchanges has been around 10-15 million USD per daily auction. I've
been curious to see the price since the handover, but it isn't
posted or they have had no auctions
(http://www.iraqcoalition.org/exchange.html)

What that tells me is that most of the websites selling Iraqi
dinars are gouging- nearly doubling their money. At the present
time, and probably for a few years to come the only place you can
exchange Iraqi dinars is *IN* Iraq, in the near future you may have
to deal with one of these sharks to get your dollars at a
significant discount(or take a vacation to Iraq!), until
international banks are allowed to exchange dinars. It reminds me
of times I have exhanged money in the streets in Albania, and the
Dominican Republic, where the street rates are much much better
than bank rates but being mugged is a real possibility.

Another thing I have looked at are values of surrounding
currencies. At http://www.fxstreet.com/nou/gci/gcicurrencies.asp
you can monitor the Riyal ($3.7478/SAR), the Kuwaiti dinar
($0.2946/KWD)and others. This doesn't tell me much, but one thing
to consider is that the Turkish Lira currently trades at 1,469,995
Lira to the dollar.

My own opinion is that 1)the dinar may get cheaper in the near term
because of the instability 2)Iraq does not look that economically
bright to me. It is a one-pony country with only oil to depend on.
As a petroleum geologist I can tell you that it will be 3-5 years
before Iraqi oil production is restored to prewar levels, and those
levels were not high (~2.5 mbpd peak in 1999 compared to world
consumption of 78 mbpd). It may be 10 years or more before Iraq is
truly a significant oil producer. The first tanker load of oil to
leave Iraq since the war started only sailed about a month ago.
Many of the Iraqi oil fields are permanently damaged from being
shut-in and will require new drilling before there is any
resumption of production. 3)the most likely way to make money on
the dinar might be as a collectible. Currently the 1971 Iraqi dinar
notes list (in Krause) for US$20 to $60 per dinar in uncirculated
condition at retail value. Even this is speculative because there
may end up being a lot of these notes being hoarded by collectors-
and it might take 30 years to get there!

If you want to wait ten years- you might make good money, or you
may have the equivalent of Turkish Liras.


This guys whole arguement was that the dinar might become like the lira... but what does Turkey have economically?? Earthquakes? just MO but.. I think the single fact that iraq has oil makes it such a good investment... everyone in the world wants oil... and they are going to get it from Iraq... drilling new holes and producing oil will not be a problem IMO... if you know you will generate money from something, why would you delay at all from producing it? Iraq is going to get back on track.


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Nacho
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TenageTrader said:
"This guys whole arguement was that the dinar might become like the lira... but what does Turkey have economically?? Earthquakes? just MO but.. I think the single fact that iraq has oil makes it such a good investment... everyone in the world wants oil... and they are going to get it from Iraq... drilling new holes and producing oil will not be a problem IMO... if you know you will generate money from something, why would you delay at all from producing it? Iraq is going to get back on track."

True, but Iraq only has a small amount of oil as compared to some of the other oil producing nations. I would say also that thier infrastructure for drilling the oil is very antiquated compared to other nations in the middle east using much more modern drilling & delivery systems. They aren't even get 20% of the oil reserves in the areas they are drilling in because of this problem. This leads to yet another bigger problem. Replacing all this with new systems that work. That would take many years and many more billions. It's almost not worth it because companies are investing in geographic locations that are deemed much more oil rich. So, in the long run Iraq will not be that well off in the oil bussiness unless there is some serious investment into updating thier infrastructure. If it ever happens, it may be way down the road due to the terrorist elements in Iraq that have targeted this industry on numurous occasions.....

Another thing to consider are the elections early next year in Iraq. I think that's another key. If they vote in somone like Al Sadr, kiss your dinars good buy. I would seriously wait until atleast the elections before making any investment in Iraq. For now, I'll just be keeping an eye on this one. Things could turn around for the better. If Bush wins the election here & we clamp down on those throat cutters over there that will be a big help.


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JBCak47
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Iraq has the second largets proven reserve in the Mid-East, however the areas of Khazakstan, Uzebekistan, and Tajikstan area around the Caspian sea have huge reserves except the whole area is unstable due to Islamic Fundmentalism. Also the area is terribly poor. Those people are the ones who ate more meat, dairy and bread under Communism sorry to say...

-John


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Spike3113
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Nacho posted something that said that $1 US would get you 1,469,995 Turkish Lira. Would it be wise to start investing in this currency? If so, where would I go to get it. I checked out eBay and someone is selling 1 million Lira for $10 US. Im new to this, please help...
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stock_82
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I know that article was a little old, but I say that if you (Teenage Trader) really think the dinar will be worth .10 in two years, you're nuts. It's in the thousands of cents right now and you expect it to be worth ten cents in two years??? We have to be realistic with this and look at much more than the fact that Iraq has oil. Yeah they have oil, but all the oil in the world does us no good if it's not being drilled and exported. I am very interested in this and I think it has promise as a long term investment, but 1) At this point I think it is very risky because we have no idea what will happen there with elections, terrorists, etc. and 2) .10 in two years would take a miracle....that is over 1000% return. Do you really think it will be this easy....Iraq would have to have a huge industrial boom for their monetary system to appreciate like that against our dollar. These are just my thoughts...again I am for this investment, but I think it would be wise to wait...at least until our elections.
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JBCak47
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Well considering very little oil will be pouring out, I heard news reports of something like 10% of the pre-war levels (prewar I assume is the Second Gulf War, but then again I am not sure, the news or I could have gotten it wrong.) of 2 million barrels a day, or roughly 200,000 per day. As of now, the pipe lines are being attacked, oil transportation has been subject to loss, theft, corruption, as per the news. However, perhaps in two years they could exceed the desired goal of ten percent and make something like thirty pecent, I am sure that would make their dinar more profitable. If security is improved over the country, that too should, should being key here,lol, add to the value and stability of their dinar against our dollar. The key is their oil, I am sure within two years their infrastucture will improve considering France, Germany, Russia/Europe, Asia/China need more oil, espically China, to feed it's growing industry, espically if the world economy picks up, which it is. Not to mention some of the oil will go back to us. Perhaps it will go on the market, I am thinking it will go into the SPR... OR the military will get it.

However even if you had to hold onto the money for three years, if there was an exchange, in terms of a re-issuement of money, you could always exchange it, I mean I would even go to Iraq to do it, I mean if I had to.

-John


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The ONE
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I think we all agree that this is a long-term investment rather by long term you mean two years or ten years. What you have to look at is risk vs. reward. You put in 1K dollars now with the opportunity of multiplying your investment by 10 in the future. On top of that I think America has a vested interest in seeing this country do well sooner than later. The process to rebuild and modernize the pipelines and basic infrastructures in Iraq have already begun and will continue as needed. We want this country to succeed. I think it will do just that. There is always an opportunity for setback but the real risk is not taking the opportunity to get in now and kick yourself later on when it higher priced. Currency after all is a self-fulfilling commodity. The more people want it (higher demand) and the more people buy it (lower supply) the price will go up. It’s a matter of simple supply and demand. Of course demand hinges on America getting its way…. a strong, oil producing Iraq.

If we build ... they will come.


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The ONE
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Lots of info here. http://baghdad.usembassy.gov/

This link has some interesting updates on it.
http://usinfo.state.gov/mena/middle_east_north_africa/new_iraq/ni_economy.html


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pharmdman
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quote:
Originally posted by JBCak47:
Well considering very little oil will be pouring out, I heard news reports of something like 10% of the pre-war levels (prewar I assume is the Second Gulf War, but then again I am not sure, the news or I could have gotten it wrong.) of 2 million barrels a day, or roughly 200,000 per day. As of now, the pipe lines are being attacked, oil transportation has been subject to loss, theft, corruption, as per the news. However, perhaps in two years they could exceed the desired goal of ten percent and make something like thirty pecent, I am sure that would make their dinar more profitable. If security is improved over the country, that too should, should being key here,lol, add to the value and stability of their dinar against our dollar. The key is their oil, I am sure within two years their infrastucture will improve considering France, Germany, Russia/Europe, Asia/China need more oil, espically China, to feed it's growing industry, espically if the world economy picks up, which it is. Not to mention some of the oil will go back to us. Perhaps it will go on the market, I am thinking it will go into the SPR... OR the military will get it.

However even if you had to hold onto the money for three years, if there was an exchange, in terms of a re-issuement of money, you could always exchange it, I mean I would even go to Iraq to do it, I mean if I had to.

-John


JB, if all else fails, here's the deal... if there is a currency exchange and new "new" IQD are being replaced, then the opportunity here is to offer to exchange OTHER people's IQD when you fly over... for a fee, of course!!! I'll see you at Baghdad International Airport!! Drinks on me!


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JBCak47
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Well I wouldn't charge you a fee, and a certain stoned pigeon is using my car as leverage..lol...

However for the SP and The Pharmicist, Afhanistan is just a stones throw away... you know with those never ending fields of poppies... and hemp....yummmmmmmmm :

Now knowing my luck I will be diverted to Sudan, unknowingly wake up and leave the plane only to discover a sign saying "Ethiopia, 225 km East" hmmmmmmm....

Lets see if I subtract the two, carry the y and solve for x, usuing pagatheorums theory and carring the remainder, ahhhhh damn... My plain was diverted... whoa!

You know you could take your millions of dinars BACK to Iraq and live pretty well... I mean... well... maybe live? At the very least I am sure you can get a couple of prostitutes lol... Now in America most prosititues are chicken head crack heads or some form of addict... and 99.9% look beyond gross. I wonder how Iraqi prostitutes look like. In Italy, outside the city of Piza, there are/or were these BEAUTIFUL Italian girls, 18-24, who would stand on the side of the road, in the middle of the day, wearing nighties and what not. Well it turns out they are prostitutes who only give head/hand jobs they don't have sex. These girls were smoking hot, I MEAN UNLIKE ANY HOOKER YOU WILL OR HAVE SEEN IN AMERICA. We have fat black and white ones, they have almost models. I swear to you guys. I was 18 at the time and with the family, so nothing was going ot happen not that it would because I am not keen with some Italian slhore licking my chopstick with like 20 others guys kids in her mouth... That ain't kosher... lol...

None the less they were good lookign prositutes... WTF are we doing wrong in America? See it must be the Meth and Crack...

-John


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Spinoff
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I just purchased a 1 count today...can't hurt. BUT I was wondering if you guys think a 5k investment would be out of the question?
Thanks ahead of time!
Latah'.

[This message has been edited by Spinoff (edited July 07, 2004).]

[This message has been edited by Spinoff (edited July 07, 2004).]


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JBCak47
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If you can afford to possibly lose the 5k then go for it...

I mean you'd have 5 million or so Iraqi Dinars...

If it hit:


.01 = $50,000
.02 = $100,000
.05 = $250,000
.10 = $500,000

All in cash too,lol Hey why not. I mean even if it ONLY hit two cents, 100k is pretty good. Only until CMKX hits can I get my Dinars... When it hits, then I'll will get three million or so... dreams...

-John


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pharmdman
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JB, did you ever solve the equation of how many prostitutes/IQD? LOL....

can they be re-sold on prizewise?? what are the tax implications? LOL


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Spinoff
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Yeh I hear ya. I hope your CMKX comes in. I had a good portion, but like a fool I sold prior to the big push northbound. Still kickin myself over that one. Thanks for the info, and your right CMKX has the shiny stuff and IRAQ has the black stuff. It's just a matter of time I would think.
-Monty.
quote:
Originally posted by JBCak47:

If you can afford to possibly lose the 5k then go for it...

I mean you'd have 5 million or so Iraqi Dinars...

If it hit:


.01 = $50,000
.02 = $100,000
.05 = $250,000
.10 = $500,000

All in cash too,lol Hey why not. I mean even if it ONLY hit two cents, 100k is pretty good. Only until CMKX hits can I get my Dinars... When it hits, then I'll will get three million or so... dreams...

-John



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JBCak47
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Pharm, lol... what a day, with QBID... Just keep holding strong We will be rewarded!

How many prositutes... I think you pay by how pretty they are...lol.. guys or girls

lol...

Ahhh prositiutes aren't for me though, funny to talk about but not something I would like to dip my knob in... Besides, giving my all to some skinny meth head or fat chicken head is not my idea of a fun date.

Besides way to many things you can catch, lobsters and crabs to say the least, hehe...

-John


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Smctbone
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1.00 USD = 1,437.64 IQD


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Spinoff
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What I like about this is that at least you know pretty much "exactly" what your getting into. Unlike some companies like WNMI after the big push north in April then all of a sudden the hidden dilution happens, and I don't hear about it until it's 85% complete....sux bigtime. That was my big loss this year, and hoping to gain some back on other plays as well as this long term play. GLTU"S"A
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pharmdman
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Spinoff
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Just added another one count today, and thought I'd add to this post.
I also like the fact that this price will always fluctuate on a daily basis so it won't be like watching paint dry. This might turn out to be the most fun play yet . I'm hoping PCCL brings some profit soon so I can get a total of 5k invested in dinars. COMON IRAQ! GET ONLINE AND PRODUCE!!
quote:
Originally posted by Spinoff:
What I like about this is that at least you know pretty much "exactly" what your getting into. Unlike some companies like WNMI after the big push north in April then all of a sudden the hidden dilution happens, and I don't hear about it until it's 85% complete....sux bigtime. That was my big loss this year, and hoping to gain some back on other plays as well as this long term play. GLTU"S"A


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YOuNgFettaChini
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Ganz interessant:
http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_derosa&sid=a3cvaoPC1t2E

------------------
Your mind is your greatest asset...SO use it!!!


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pharmdman
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Very nice find, Young... but in my mind it's still worth the risk... it's only a few hundred bucks! I've spent that on a bad night out...LOL....
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JBCak47
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LOL, YEAH TOTALLY, WE ALL HAVE BLOWN MONEY ON 'BAD NIGHTS OUT'...Of which you remember 2% of what happened...

-John


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pharmdman
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quote:
Originally posted by JBCak47:
LOL, YEAH TOTALLY, WE ALL HAVE BLOWN MONEY ON 'BAD NIGHTS OUT'...Of which you remember 2% of what happened...

-John


it's the 98% that your friends fill you in on that's totally embarrassing! LOL Not to mention, years later you still think they made some of it up!!


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Spinoff
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You just gotta luv speculative people. They just help paint a clearer picture. I love the words used here especially the "very fast" part. Does he happen to know the words long term?
"It has become apparent that a lot of people believe a modest investment in the currency will make them rich very fast."
Or the gold part in this one:
"There is no gold behind the dinar. There is no currency board, such as there is in Hong Kong, to backstop the value of the currency. There is only the promise that the central bank will behave in a responsible manner."
Black Gold that is. Someone should tell this dude to do some DD on Allstocks
Latah'

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YOuNgFettaChini
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quote:
Originally posted by pharmdman:
Very nice find, Young... but in my mind it's still worth the risk... it's only a few hundred bucks! I've spent that on a bad night out...LOL....

I agree, totally!! I just wanted to expose both sides of the coin. I've already purchased Dinar from a reliable source. At 10 cents to the dollar, I will be very happy! Hopefully, everyone that is considering investing in Dinar, obtain them from a reliable source, the "Internet" is full of scammers. GLTA...and I'm out!

P.S. Don't forget about that good ol' gold bullion.......

------------------
Your mind is your greatest asset...SO use it!!!


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pharmdman
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Young, what was your reliable source? Someone military returning or a website?
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YOuNgFettaChini
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quote:
Originally posted by pharmdman:
Young, what was your reliable source? Someone military returning or a website?

I have researched/perused many sites and the only one I found sufficient in handling of Iraqi Dinar was....(drumroll please)www.buydinar.com!! Why? They are backed by the BBBureau...they don't deal with credit cards, no checks/money orders....hence pure professionalism. I haven't the slightest notion to how legit E-Bay or other sources are, I can only represent my side, empirically, meaning I have experienced and observed from my side of the table. In essence, get them where you can...but mine are better. LOL!!!

------------------
Your mind is your greatest asset...SO use it!!!

[This message has been edited by YOuNgFettaChini (edited July 09, 2004).]


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pharmdman
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thanks Young... there's one business on ebay that's been selling them and they have all positive feedback. So it's either them or buydinar.com...
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